WilmerHale Partner Neena Shenai recently spoke with the Anti-Corruption Report for the final installment of its four-part series, “A Primer on Trade Controls for Compliance Professionals.” 

Discussing the increasingly complex trade controls landscape, Shenai emphasized the need for companies to take an enterprise-wide approach to compliance. “When companies think about risk, diligence and compliance programs, they need to approach trade controls with a much broader view,” she said. 

Shenai also addressed third-party and supply chain risk, noting that companies doing business abroad have an increased responsibility “to know with whom they are doing business both directly and indirectly.” She added that enhanced due diligence and risk identification can take time to implement because they often require new systems, more thorough diligence, and enhanced screening.